8:30AM Kick-off and Startup Pitches:
After you’ve had a chance to meet the other investors, the day kicks off with pre-screened startups pitching to the entire congregation, like a mini demo day. No questions.
9:50 AM Due Diligence:
We then break out into separate rooms for each startup. Each team will have 14 minutes with each founding team while judges observe and score the teams. After 14 minutes, the founders will quickly step out, and judges will have 3 minutes to provide feedback to the teams. Focus on ONE thing each team did well and ONE thing they could improve. After each team leaves, you’ll give them a score on the judging form. The notes and scores on the judging form are not collected nor distributed! They are for your reference only, partcularly helpful later in the day as you give feedback and to ask teams questions later during partner meetings.
12:00PM Vote Round 1: Due Diligence
Submit your vote for the top 3 teams based on your evaluation of performances during the due diligence sessions.
12:10PM Quick Feedback to Founders and Lunch Break
After the last due diligence session, spend a few minutes giving the founder some feedback about the morning before taking a lunch break.
12:40PM Judge Deal Discussion
After lunch, the judges will discuss the startups (not the teams) to catch up on the due diligence sessions you were not able to observe. Judges will share how you might structure the deal if you were on a team and were required to submit a term sheet for one of the startups at this event.
1:30PM Written Deliverables and Panel Partner Meetings
From each team, you’ll receive an executive summary of their investment decision, a term sheet summary for one startup and up to 3 pages of attachments. Teams will then discuss their investment decision with judging panel in a simulated 10-minute partner meeting. Teams are instructed to “own” the meeting but to expect interruptions. There is no prescribed time for Q&A. PowerPoints are not allowed, as the focus is on the written deliverables.
3:00PM Vote Round 2: Written Deliverables
Choose your #1, #2 and #3 teams for the written deliverables portion of the judging criteria.
3:20PM Individual Partner Meetings (new in 2022)
These sessions are a combination of feedback and questions. You will rotate through the teams’ study rooms to provide individual feedback and ask any lingering questions you may have (bring your notes!). We’ve told the teams that this is a last chance to “win you over.” You may do any combination of the following:
- Provide feedback: share what you think they did well or could have done better.
- Ask questions: clarify any earlier performance issues to make sure you have all you need to vote for your top 3 teams.
- Share your perspective: talk about how you would have handled this challenge (which startup you would have chosen, what terms you would have offered, what you would have focused on in due diligence…).
4:20PM Vote Round 3: Partner Meetings
Submit your top three choices for the Partner Meetings section of the judging criteria. The winning team will be the one with the most cumulative points.
4:30PM Awards Ceremony
The top 3 teams will be recognized, and the startup with the most term sheets will win “Most VC-Backable Startup” of the region.